Deutsche Bank Aktiengesellschaft Boosts QUALCOMM (NASDAQ:QCOM) Price Target to $170.00

QUALCOMM (NASDAQ:QCOM) had its price target boosted by stock analysts at Deutsche Bank Aktiengesellschaft from $155.00 to $170.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “hold” rating on the wireless technology company’s stock. Deutsche Bank Aktiengesellschaft’s price target would suggest a potential upside of 3.41% from the company’s current price.

Several other brokerages have also issued reports on QCOM. JPMorgan Chase & Co. raised their target price on shares of QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Westpark Capital restated a “hold” rating on shares of QUALCOMM in a report on Tuesday. Hsbc Global Res lowered shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Rosenblatt Securities upped their price objective on shares of QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Morgan Stanley lifted their target price on QUALCOMM from $158.00 to $172.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $207.71.

QUALCOMM Price Performance

Shares of QCOM stock traded down $16.56 during trading hours on Thursday, hitting $164.39. 14,255,308 shares of the company’s stock were exchanged, compared to its average volume of 9,310,086. QUALCOMM has a 52 week low of $104.33 and a 52 week high of $230.63. The stock has a market cap of $183.46 billion, a price-to-earnings ratio of 21.88, a price-to-earnings-growth ratio of 2.03 and a beta of 1.27. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. The stock’s 50-day moving average is $202.69 and its 200-day moving average is $178.02.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.11. The firm had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.32 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. As a group, research analysts forecast that QUALCOMM will post 7.84 EPS for the current year.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the sale, the chief financial officer now directly owns 60,343 shares in the company, valued at $12,407,124.23. The sale was disclosed in a filing with the SEC, which is available at this link. In other QUALCOMM news, Director Neil Smit sold 3,069 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total value of $616,684.86. Following the sale, the director now owns 5,902 shares of the company’s stock, valued at approximately $1,185,947.88. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the transaction, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,185 shares of company stock valued at $8,552,835. 0.08% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. StrategIQ Financial Group LLC acquired a new stake in shares of QUALCOMM during the 4th quarter valued at $216,000. Trust Point Inc. acquired a new stake in QUALCOMM during the 4th quarter worth approximately $779,000. Ballentine Partners LLC increased its position in QUALCOMM by 12.0% in the 4th quarter. Ballentine Partners LLC now owns 20,234 shares of the wireless technology company’s stock valued at $2,926,000 after acquiring an additional 2,161 shares during the period. Advisory Alpha LLC bought a new position in shares of QUALCOMM during the fourth quarter valued at $276,000. Finally, Walkner Condon Financial Advisors LLC acquired a new position in shares of QUALCOMM during the fourth quarter worth $203,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

About QUALCOMM

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.